A little over a month ago, the Commission on trade commodity futures (CFTC) announced that three exchanges independently certified the derivatives of bitcoin. After review
Association for futures (FIA), the CFTC announced the holding of two public meetings of the Commission under self-certification, procedures and operational controls for listing and trading of cryptocurrency futures.
The announcement was made after the speeches, the SEC and NASAA to discuss common problems of the regulators with respect to ICO, cryptocurrencies and other «investment products related to cryptocurrency».
the meeting scheduled for 23 January 2018, will be the meeting of the Technological Advisory Committee (TAC). The meeting is planned, «study of current issues and questions related to financial technologies for regulated markets CFTC, potentially including blockchain/DLT, standardization of data and Analytics, algorithmic trading, virtual currency, cybersecurity and RegTech». The meeting will be open – it will be held in the headquarters of the CFTC in Washington, will also be available online broadcast of the meeting.
In the second
the meeting is scheduled for January 31, 2018, will take part in the Advisory market risk Committee (MRAC). The meeting will be open and streamed online. The purpose of this Committee meeting is to discuss «regulating and governing the processes for listing new products on regulated contract markets (DCM) and swap exchanges (SEF) under the self-certification».
CFTC Commissioner Rostin Benham (Rostin Behnam) said:
«With the rapid development of products in the field of financial technologies, including cryptocurrencies, and the corresponding demand for new pricing tools and risk management, the CFTC’s willingness to use its authority and expertise to markets that we are in control, evolved in the framework of relevant regulatory requirements».
Benham added: «I think this is a perfect time for MRAC to discuss the possibility of self-certification on the market, which is rapidly evolving thanks to technology.»
It is unclear whether you are considering other regulatory bodies these meetings as an attempt by the CFTC to expand its authority by amending the self-certification or, alternatively, they are happy to allow the Commission to play a leading role in attempts to gain control over the cryptocurrency. All the evidence suggests that the CFTC has drawn attention to the problems voiced by the FIA, the SEC and NASAA, and plans to respond quickly to them.